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Art collection owned by Microsoft co-founder Paul Allen fetches $1.6 billion – National

The sale of the priceless art collection amassed by the late Microsoft co-founder Paul Allen has set a record for the highest art price in the world. In his single auction on Wednesday, 60 works of art sold for his $1.56 billion, making it the largest sale in auction history.

The collection spans 500 years of history with 155 works of art. Five works by modernist masters Vincent van Gogh, Georges Seurat, Paul Gauguin, Paul Cézanne and Art Nouveau visionary Gustav Klimt each sold for over $100 million. It set a new record for these artists.

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Max Carter, vice president of 20th and 21st century art at Christie’s, said:

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Christie’s sold another $116.6 million in art on the second day of the auction, which ended Thursday, making it the world’s most valuable private art collection. In total, Allen’s art collection was her $1,622,987,500, yielding her 100% of the works sold.

Proceeds from Allen’s art collection will be donated to charity according to the Giving Pledge, a campaign that encourages millionaires to donate most of their wealth.

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The previous record holder for most valuable collection was the Macklowes, a wealthy New York couple who sold their art collection for $922 million earlier this year.

One reason the ultra-rich are spending millions on auctions these days is because they see art as a safe investment amid a volatile global economy and war in Ukraine, reports the BBC.

Allen died of non-Hodgkin’s lymphoma in 2018. In 1975, he founded Microsoft with his childhood friend Bill Gates. According to Forbes, at the time of his death, he was the 37th richest person in the world, with an estimated net worth of his $13.5 billion.

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Allen’s sister, Jodi Allen, said that for her brother, art was “analytical and emotional,” CNN reported.

We have compiled notable works from the collection, including five of the most valuable and two Canadian paintings.

Les Poseuses, an ensemble by Georges Seurat.

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The most expensive work at auction was Seurat’s 1888 painting. Les Poususes, Ensemble (translated into The Posers, Together), sold for $149.2 million. The huge price tag is almost five times more expensive than the previous record for the French artist’s work.

In the background of the painting we see some of Seurat’s most famous works. Sunday afternoon on the island of La Grande Jatte.

“La Montagne Sainte Victoire” by Paul Cézanne.

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The second most valuable work is Cézanne’s La Montagne Sainte Victoire, an oil painting of the French Mountains that won $137.8 million. Allen purchased this piece in 2001 for $35 million. At the time, it was the second-highest price ever paid for a Cézanne work.

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“Verger avec Cyprès.” by Vincent Van Gogh.

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Van Gogh’s Verger avec Chypre, or Orchard with Cypresses, sold for $117.2 million at auction, making it the most expensive Van Gogh work ever sold. This modernist landscape of the Provencal countryside is one of his fourteen canvases depicting the flowering of this orchard.

Maternity II by Paul Gauguin

“Maternity II” by Paul Gauguin.

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Gauguin’s maternity It sold for $105.7 million and was the fourth most valuable production of the night. CNN reports that Gorgin’s private sale may have fetched him over $300 million in 2015, making it the most expensive Gorgin ever sold at auction.

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Allen purchased the painting for $39 million in 2004. The work was painted during her controversial stay in French Polynesia, where she fathered a teenage child. His paintings from this period of his life are very popular.

Gustav Klimt's "birch forest."

“Birch Forest” by Gustav Klimt.

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Klimt’s fifth most expensive work birch forest, sold for $104.6 million. The painting resurfaced ten and a half years ago after being looted by the Nazis in the 1940s.

“Mountain Sketch LXIII” by Lauren Harris.

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Also included in Allen’s collection were two paintings by renowned Canadian artist and Group of Seven member Lauren Harris. They sold for $882,000 each.

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The picture above is of Harris Mountain Sketch LXIIIdepicting Jasper National Park.

“From Lake Burg, Morning” by Lauren Harris.

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The second Harris to be auctioned is From Bergsee in the morning A view from Mount Robson State Park. Allen acquired two Harrises at her 2016 auction.

Other notable artists whose work has been auctioned as part of Allen’s collection include contemporary artists such as Georgia O’Keeffe, Claude Monet, Pablo Picasso, Andrew Weiss, Jackson Pollock, David Hockney, Jasper Johns and Lucian Freud. will be

© 2022 Global News, a division of Corus Entertainment Inc.



Art collection owned by Microsoft co-founder Paul Allen fetches $1.6 billion – National

Source link Art collection owned by Microsoft co-founder Paul Allen fetches $1.6 billion – National

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